Lennar was the high bidder yesterday on a 140-acre parcel of Arizona State Trust Land surrounded on three sides by Sonoran Foothills. The home builder paid $22.6 million for the property. The parcel abuts Dove Valley Road to the north and Paloma Parkway to the east. Sonoran Foothills School sits just south of the parcel.
Lennar has not announced plans for the parcel, and it’s not known yet if any possible development would become part of Sonoran Foothills. Were it to be approved for construction at a residential density typical to the area, it might hold 450 or more homes.
State Trust Land, by law, must be “managed for the sole purpose of generating revenues” for its beneficiaries, primarily state education. This translates to the state being required to sell acreage over time, often for development, and direct the proceeds to schools.
Oh, the Views!
Watch Daisy Mountain turn beautiful colors as day turns to night from your covered patio, great room, living room, bedroom…! By nightfall, this luxury home high on the hillside looks onto the twinkling city lights of Anthem below.
5 BEDS | 4 BATHS | 4-CAR GARAGE | 3,774 SQFT | $698,000
3308 W ADAMANDA Drive, Desert Hills
Call 623-297-2557 or CLICK TO LEARN MORE